Opec countries 'cheating'

Tuesday 22 January 2002 00:00 BST

MEMBERS of the Organization of Petroleum Exporting Countries (Opec)are cheating on quotas, says the Centre for Global Energy Studies consultancy. Opec is cutting output by 1m barrels a day, not the 1.5m barrels planned. CGES sees oil prices falling to $18 a barrel, but rebounding to $21 by the autumn.